This Mumbai-based company is planning ₹2,000cr data center near Chennai
What's the story
Mumbai-based real estate company, IndiaLand Group, is planning to set up its first data center project in and around Chennai. The proposed facility will be spread over eight lakh square feet and could cost between ₹500 crore and ₹2,000 crore. Jaynit Raheja, the company's Managing Director, said the final decision on the project will depend on market response and strategic considerations.
Diversification strategy
IndiaLand Group's expansion plans in Tamil Nadu
Along with the data center project, IndiaLand Group is also expanding its solar power projects in Tamil Nadu. One such project is coming up near Madurai. The company is also looking at smaller office spaces for sale or lease in Chennai. Raheja said Coimbatore is one of India's top tier-2 IT markets with high demand and steady rental growth.
Market footprint
IndiaLand Group's presence and future plans
IndiaLand Group has been in business for over two decades, with 60% of its land banks and business operations in Tamil Nadu and Maharashtra. The company builds IT parks, logistics and warehousing facilities, retail assets, and is now eyeing the data center space. Raheja said they are expanding their Coimbatore IT Park which was started in 2008 with a new tower.
Operational success
Logistics and warehousing park
In the logistics space, IndiaLand Group runs a fully operational and over 95% leased logistics and warehousing park in Oragadam. The last one lakh square feet of the project is being constructed while all other phases are occupied. The company's clients include those in medical equipment, gym/fitness equipment, auto parts, and various third-party logistics players.